Apple Inc. quashed concerns of muted demand for its iPhone X, saying pre-orders for the 10th anniversary phone were “off the charts”, Reuters reports.
The company’s shares, which have fallen steadily since it announced in early September it would launch two iPhones within two months, rose nearly 3 percent in response.
Pre-orders for the much-anticipated 10th anniversary phone started on Friday.
“We can see from the initial response, customer demand is off the charts,” an Apple spokeswoman told Reuters.
“We’re working hard to get this revolutionary new product into the hands of every customer who wants one, as quickly as possible.”
The company’s website showed delivery times pushed out to five to six weeks for the phone, compared to an initial plan of Nov. 3.
IPhone X’s launch follows weeks of concerns among analysts about the production of the new phone, which for the first time includes new facial identification software to replace the fingerprint used on previous phones.
Analysts have cautioned that production of the phone was below target, due to difficulties in producing the TrueDepth camera system, which houses sophisticated cameras and sensors making it possible to unlock the phone using Face ID.
Wireless carriers in the United States and Canada have reported slow third-quarter customer upgrades.
Major promotions on the iPhone X from US carriers have yet to materialize, and in some cases, the offers have been even less generous than what was available for the iPhone 8, said Walter Piecyk, an analyst at BTIG in a research note. The base price for the phone is $999.
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